Taking A Look At Tesla Inc.

During, 1990 the Clean air acts amendment, the Energy policy act and new transportation emission regulations; which was issued by the state of California. These regulations actually boosted the electric car industry for momentarily. In response to those regulations all the major car companies Toyota, Honda, Ford, Nissan, GM and Chrysler introduced fully electric and hybrid cars to market. They did this to fulfill the massive demand for cars in California. At that time, one of the most recognizable electric vehicles was GM’s EV1. Like many companies instead of modifying an existing vehicle for electric, GM actually builds and designed their first electric vehicle from scratch. At that time, it was very expensive to produce an electric vehicle,

For their innovativeness and persistence, they were able to become the leading electric car manufacturer in the world. Tesla Motors or currently known as Tesla Inc. founded in 2003 by two American engineers from Silicon Valley, Martin Eberhard, and Marc Tarpenning. The current CEO Elon Musk joins the company in 2004 by funding with $7.5 million and became the major investor and chairman of the board of directors. Furthermore, 2005 Elon Musk invested $13 million more into the company. It was during the development of the company’s first-ever electric vehicle the Roadster. Later, 2007 he helped Tesla to raise about $40 million. Tesla launches its first production vehicle July 19th, 2006 with a price tag of up to $100 thousand. However, After the launch of the Roadster Tesla went through some tough financial crisis and in October 2008 Elon Musk took charge of the company. From 2008-2012 under Elon Musk leadership Tesla produces almost 2500 units of Roadsters. 2008 they launch Model S at a starting price of $50 thousand, 2015 Model X at a price of $80 thousand and 2016 Tesla unveils Model 3 their most affordable vehicles starting at $35 thousand. Moreover, Tesla raised more funds by launching its IPO in 2010, which help them to raise $226 million. Since, 1956 till 2010 there has been no major car company that launches its IPO in U.S. markets other than Ford. Tesla was the first